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Latisys provides colocation and IaaS services through eight datacentres across five markets – Northern Virginia, Chicago, Denver, Orange County and London. Its datacentres currently total over 185,000 square feet of billable space and 33 megawatts of critical power with the ability to expand. Latisys focuses on marketing to and serving approximately 1,100 predominantly medium to large enterprise customers with large storage, compute and data connectivity needs. The combination of high quality assets, innovation and accelerating market demand has driven a strong track record of robust revenue growth and margin expansion since its founding in 2007.
The transaction brings together Zayo’s unique fibre assets and interconnect-oriented zColo datacentres with Latisys’ high density facilities. Latisys provides zColo a datacentre presence in four new markets. Zayo owns and operates extensive metropolitan fibre networks across all of the Latisys markets, physically connecting each of its datacentre facilities. This will allow Zayo to sell fibre and bandwidth services to Latisys’ core set of enterprise customers, and to market new colocation and IaaS services to Zayo’s base of carrier and content customers. Over time, the convergence of data storage and processing with data transport and connectivity will accelerate.
“Both Latisys and Zayo’s zColo business have a great track record of creating value for investors and customers,” said Dan Caruso, chairman and CEO of Zayo Group. “The addition of Latisys into Zayo strengthens Zayo’s portfolio of infrastructure services.”
“It’s an exciting day for our customers and employees to become part of a fast growing company at the forefront of delivering unified infrastructure services to today’s dynamic market. By integrating our state of the art platform, coupled with efficient processes and great people, the combined entity will offer a highly compelling value proposition,” said Pete Stevenson, CEO of Latisys.
Latisys generated Adjusted EBITDA of approximately $11.0 million for the three months ended September 2014 and approximately $4.2 million for the month of November 2014.
The transaction is expected to be funded with senior unsecured indebtedness as permitted by existing debt covenants, subject to market conditions, and is expected to close within the current quarter, subject to customary approvals. DH Capital, LLC served as the exclusive financial advisor to Latisys Holdings, LLC.
